As the Woodstock Generation Turns 65
With more than 10,000 Baby Boomers turning 65 each day, the 65 and over is population will reach 83.7 million by 2050.
The majority of these 65+ Boomers are women.
Recently, home care company Honor conducted a survey to see how the adult children, (and care-givers) are getting on. They found that:
- 41% of women and men surveyed struggle with balancing personal and other family commitments while caring for an aging parent.
- 13% lack caregiving skills.
- 9% feel financial strain whether it’s missing work or paying for services to help care for Mom and Dad.
These are sobering findings, but they’re not surprising. The majority of adult workers these days are living paycheck-to-paycheck, while the majority of aging Boomers lack the retirement funds necessary to hire care-givers.
In other words, the nation faces a looming crisis in senior care, and senior well-being.
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